Debenhams could return to the high street to land beauty deals for Boohoo
Boohoo is reportedly in talks about opening a Debenhams store to land deals with beauty and cosmetic brands that want to operate with a physical presence.
Boohoo chief executive John Lyttle told The Times that if the talks came to fruition one small Debenhams store would return to a high street just outside of London.
In January Boohoo announced plans to buy Debenhams’ brand and website for £55m, but not its physical stores.
As a result, some 118 remaining department stores were closed down, leading to around 12,000 job losses.
The pandemic ended the historic department store’s 240 years on the UK high street.
Covid-19 compounded the retailer’s slumping sales in recent years as shoppers moved away from traditional department store models.
Yesterday Boohoo reported revenue had rocketed by nearly a third in its first quarter, with customers clamouring more for ‘going out’ clothes as lockdown restrictions eased, rather than hoodies and jogging bottoms.